Cleansing Notice – DRP Underwrite

NZX Announcement

24 March 2020

Cleansing notice for underwritten shares to be issued in connection with
Freightways Dividend Reinvestment Plan
Freightways Limited (NZX: FRE) advised on 24 February 2020 that it expected to have an
underwriter for any shortfall in take up under its dividend reinvestment plan (DRP) for its
FY20 interim dividend (interim dividend) and provided a further update to the market on
23 March 2020.
Freightways has now entered into an agreement with Craigs Investment Partners Limited
(underwriter), under which the underwriter will subscribe or procure subscriptions for
shares not taken up under the DRP at the same price as shares issued under the DRP (being
$5.37 per share). Settlement of the shortfall will occur on a T+2 basis for allotment on 27
March 2020 to minimise underwriting risk. All other shares subscribed for under the DRP
will be allotted on the dividend payment date of 1 April 2020.
Pursuant to clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014
(FMC Regulations) and clause 19 of Schedule 1 of the Financial Markets Conduct Act 2013
(FMCA), Freightways states that:
1. Shares issued pursuant to the underwriting agreement are offered in reliance upon the
exclusion in clause 19 of Schedule 1 to the FMCA, and Freightways is giving this
notice under clause 20(1)(a) of Schedule 8 to the FMC Regulations.
2. As at the date of this notice, Freightways is in compliance with the continuous
disclosure obligations, and there is no “excluded information” (being information that
has been excluded from a continuous disclosure notice in accordance with the NZX
Main Board Listing Rules).
3. As at the date of this notice, Freightways is in compliance with its financial reporting
obligations.
4. The issue of shares pursuant to the underwriting agreement is not expected to have any
effect on the control of Freightways.
ENDS

For further information please contact:

Mark Troughear
Chief Executive Officer
Freightways Limited
Ph: +64 (9) 571 9673